Luxury goods group Richemont struck a cautious note after reporting sales numbers hurt by moves to combat the grey market and efforts by the Chinese government to discourage consumers from spending overseas.
October’s high street sales in the UK continued to be sluggish and while retailers might have been hoping to reverse October 2017’s 5.2% fall, a like-for-like drop of 2% this time meant they didn’t get their wish.
Farfetch losses may have grown in Q3, but at its still-early development stage that's no shock. Losses aside, its Q3 report showed it surging ahead on sales and market share with enough cash to fund its lofty ambitions.
Salvatore Ferragamo said its outlook for the year remained cautious after posting a 3.3 percent drop in nine-month sales, hit by currency swings and due to weakness in some divisions and geographic areas.
Driven by flagship label Moschino and its multi-brand channel, the Italian fashion group has announced strong growth in the first nine months of the year, reporting double-figure increases in both revenue and profit.
Christmas spend could dip slightly in the West End this Christmas a new prediction shows but it also says that the challenging year has made it a buyers market that should tempt people away from their screens.
Michael Kors may have seen its shares falling sharply after sales missed analysts’ forecasts, but the message from the company’s top team was (almost) all positive as it looked to a time when it will be an $8bn group.
Burberry was upbeat on Thursday morning as it reported half-year results saying that its “brand repositioning is under way, with strong initial response” and that it’s “energised by the early results.”